Needham & Company LLC Reaffirms "Buy" Rating for Stoke Therapeutics (NASDAQ:STOK)

Needham & Company LLC reiterated their buy rating on shares of Stoke Therapeutics (NASDAQ:STOK - Free Report) in a research note released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $22.00 price objective on the stock.

Several other equities research analysts also recently weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Stoke Therapeutics in a research note on Tuesday, December 10th. Chardan Capital restated a "buy" rating and issued a $24.00 price target on shares of Stoke Therapeutics in a research note on Wednesday, March 19th. Finally, HC Wainwright reiterated a "buy" rating and issued a $47.00 price objective on shares of Stoke Therapeutics in a research note on Wednesday, March 19th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Stoke Therapeutics currently has an average rating of "Buy" and a consensus price target of $24.67.

Stoke Therapeutics Price Performance

Shares of NASDAQ:STOK traded up $0.31 during mid-day trading on Wednesday, reaching $7.33. 266,468 shares of the company were exchanged, compared to its average volume of 720,273. Stoke Therapeutics has a 1 year low of $5.35 and a 1 year high of $17.58. The firm's 50-day simple moving average is $8.28 and its 200 day simple moving average is $10.51. The firm has a market cap of $396.39 million, a price-to-earnings ratio of -3.49 and a beta of 1.09.

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Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.18) EPS for the quarter, topping analysts' consensus estimates of ($0.56) by $0.38. The company had revenue of $22.61 million for the quarter, compared to analysts' expectations of $4.20 million. Stoke Therapeutics had a negative return on equity of 54.45% and a negative net margin of 629.90%. On average, research analysts forecast that Stoke Therapeutics will post -2.01 earnings per share for the current fiscal year.

Insider Transactions at Stoke Therapeutics

In other news, Director Edward M. Md Kaye sold 10,382 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $8.67, for a total transaction of $90,011.94. Following the sale, the director now owns 148,253 shares of the company's stock, valued at approximately $1,285,353.51. This trade represents a 6.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Barry Ticho sold 3,884 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $8.67, for a total value of $33,674.28. Following the completion of the transaction, the insider now directly owns 63,962 shares of the company's stock, valued at $554,550.54. This trade represents a 5.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,532 shares of company stock valued at $143,332. Insiders own 11.30% of the company's stock.

Institutional Investors Weigh In On Stoke Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of STOK. GAMMA Investing LLC grew its holdings in shares of Stoke Therapeutics by 1,842.0% during the first quarter. GAMMA Investing LLC now owns 5,360 shares of the company's stock worth $36,000 after purchasing an additional 5,084 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Stoke Therapeutics during the 4th quarter worth approximately $63,000. Teacher Retirement System of Texas acquired a new position in Stoke Therapeutics during the fourth quarter worth approximately $113,000. China Universal Asset Management Co. Ltd. acquired a new stake in Stoke Therapeutics during the 4th quarter worth approximately $124,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Stoke Therapeutics by 70.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,930 shares of the company's stock valued at $132,000 after purchasing an additional 4,918 shares during the last quarter.

Stoke Therapeutics Company Profile

Stoke Therapeutics, Inc, an early-stage biopharmaceutical company, develops medicines to treat the underlying causes of severe genetic diseases in the United States. The company utilizes its proprietary targeted augmentation of nuclear gene output to develop antisense oligonucleotides to selectively restore protein levels.